ESTiG - Artigos em Revistas Indexados à WoS/Scopus
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Percorrer ESTiG - Artigos em Revistas Indexados à WoS/Scopus por Objetivos de Desenvolvimento Sustentável (ODS) "08:Trabalho Digno e Crescimento Económico"
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- Airline stock market reaction to CrowdStrike IT outage: an event study analysisPublication . Costa, João; Cró, Susana; Moutinho, Nuno; Martins, António MiguelThis study investigates the short-term market effect of CrowdStrike IT outage in the airline industry. Using an event study methodology, we evidence that airline stocks respond significantly negatively to the technology disruption within two days before and after the event day. IT disruptions, by creating friction in daily operations, such as broken schedules, delayed or cancelled flights, negative externalities, and customer dissatisfaction, lead to loss of value for airlines. The results also show that the most affected airlines are those from main CrowdStrike customers countries (mainly non-Asian countries) and an irrelevance of the business model. Finally, the extent of the stock market’s response to the CrowdStrike IT outage is influenced by other airline characteristics such as profitability, size, leverage, and cyber risk rating.
- Analyses of pandemics’ quantitative data and economic indicatorsPublication . Carvalho, Kathleen; Reis, Luis Paulo; Teixeira, João PauloThe proposed work is a study that attempts to evaluate the financial impacts of pandemic mitigation strategies in order to be part of a central model that forecasts different scenarios in pandemic situations considering the impact of mitigation procedures in the Economic System and Healthcare System. Economic fluctuations impose a more significant challenge on prediction models, and pandemic modeling methodologies are primarily concerned with the variability of epidemic features, the efficiency of control measures over time, and the development of different viral variants. In this context, this paper correlates economic indicators with quantitative parameters of the last three respiratory virus pandemics, specifically the GDP and the unemployment rates, with a sample encompassing three European countries, the United Kingdom (UK), France, and Germany, that pass through the pandemics under study. The results provide intriguing information, such as the moderated and weak correlation factor between deaths with GDP in the Spanish flu and Swine flu, and the WWI and the 2009 crises can explain which. On the other hand, the correlation factors associated with COVID-19 show a weak to moderate correlation parameter with GDP and unemployment rates but present interesting numbers when the number of people fully vaccinated is compared with GDP. Also, as the correlation factor does not presente a strong relation between daily deaths and GDP, this indicates a necessity for comparison with other economic parameters.
- Application of Benford’s law to detect signs of under-invoicing in companies in the restaurant sector during the COVID-19 pandemicPublication . Martins, Ana Catarina Rodrigues; Alves, Jorge; Vaz, Clara B.The main objective of this study is to detect signs of under-invoicing by applying Benford‘s law to the Portuguese restaurant sector during the COVID-19 pandemic, in the context of government support policies. Between 2020 and 2021, the State adopted several measures to provide additional support to companies that have seen a significant decrease in their activity, namely, a reduction of at least 25% in turnover. A literature review was carried out focusing on the impact of the COVID-19 pandemic on the companies under analysis, the support measures adopted by the State and, finally, a survey of the theoretical component relating to the application of Benford‘s law in accounting. The data were collected from the Iberian Balance Sheet Analysis System database for 2019, 2020, and 2021. After analysing the data, significant deviations are observed in several digits, practically for all the compliance tests, both in the analysis of the first digit test and in the analysis of the first two digits test. The results therefore show signs of under-invoicing in 2020 by the analysed companies, which suffered, on average, a 79% reduction in turnover.
- Building resilient tourism systems: the strategic role of financial sustainability in portuguese tourism firmsPublication . Fernandes, António B. ; Ferreira, Jessica; Seidi, Fadiba; Cardim, SofiaThis study examines the economic and financial sustainability of Portuguese tourism firms operating within Division 55 (Accommodation) and Division 56 (Food and Beverage Service Activities), using Return on Assets (ROA) as the central indicator of economic and financial sustainability to assess variations over time, across firm sizes and among regions. Drawing on a dataset of 8,735 firms and 113,559 observations from 2011 to 2023, the analysis relies on ROA due to its analytical robustness and suitability for longitudinal and cross-sectional comparison. Given the absence of normality and homogeneity of variances, robust statistical techniques were applied, namely Welch’s ANOVA and the Games-Howell post hoc test with bootstrapping, to ensure reliable inference. The findings reveal significant differences in financial sustainability over the study period, between firms of different sizes and across regions. Small firms record higher average ROA than micro, medium or large firms, while the Algarve emerges as the highest-performing region and the Autonomous Region of the Azores presents the weakest results. The study is limited by its exclusive reliance on quantitative financial indicators, without incorporating qualitative dimensions that might enrich understanding of sustainability drivers, and by the constraints posed by data non-normality. The results emphasise the need for policy measures tailored to regional characteristics and highlight the pivotal role of small firms in resilience in the tourism sector. The study adds value by providing a rigorous, longitudinal and regionally differentiated analysis of financial sustainability within the Portuguese tourism industry.
- Determinants of sustainability performance of manufacturing companies using two-stage data envelopment analysisPublication . Sutiene, Kristina; Vaz, Clara B.; Vaitiekuniene, Raminta; Vaz, Clara B.The investigation of business performance via the lens of sustainability has become an increasingly attractive topic among scholars. This study contributes to the field by proposing a two-stage methodology. First, to assess companies’ efficiency in terms of sustainability, their scores of the environmental, social and governance (ESG) pillars are combined into the single weighted sustainability performance indicator using the ‘Benefit of the Doubt’ model, which is maximized for each company by comparing it against the best performers in terms of ESG scores based on Data Envelopment Analysis. Then, in the second stage, the significant determinants are identified after efficiency estimates are regressed on company performance indicators using Tobit panel regression. To demonstrate this approach, we selected 559 companies from the manufacturing sector, as this industry continues to face challenges to reduce environmental impact, improve resource efficiency, and promote social responsibility. The main findings include the examination of the best performers and underperforming companies in terms of sustainability, along with key financial indicators identified in the study.
- FSC Certification in the Sustainability Management Control Systems: A Case Study of Four Wood Trading CompaniesPublication . Leite, Joaquim; Ribeiro, Vânia; Carmo, CecíliaThere are many management indicators on sustainability, but it is important to better understand the practices and the underlying reasons for including the monitoring of forestry certificates in management control. The purpose of this paper is to examine how and why Forest Stewardship Council (FSC) certification is incorporated into sustainability management control systems (MCSs). FSC certification serves as a credible tool for companies to demonstrate their alignment with the Sustainable Development Goals (SDGs), enhancing stakeholder confidence. The literature review centers on the concepts of FSC certification and sustainability MCSs. A multiple case study methodology was employed, focusing on four companies in the wood and wood-based product sector, particularly those with forestry certifications like FSC. Data were collected from documents published online by the companies studied, followed by a content analysis typical of qualitative research. The results show that the companies studied integrate FSC certification into their MCSs through diverse practices (how?) driven by sustainability motivations (why?). These firms adopt and promote sustainable initiatives, embedding FSC principles into their systems for performance monitoring and assessment. The findings indicate that companies in this sector not only adopt sustainable practices but also prioritize sharing information about these efforts. Practically, it was observed that retail businesses dealing with wood and wood-based products incorporate seven out of the ten FSC principles into their management systems. This reflects a significant level of integration of FSC certification within the MCSs of the analyzed companies.
- The impact of hotel operational factors and crises on corporate debtPublication . Pereira, Rita; Alves, Jorge; Moutinho, NunoTourism is an important sector for the development and economic growth of a country and the work and dynamism of hotels in this context is fundamental. Therefore, companies may take on debt to enable greater investment, which can enhance the quality of their operational activities in the hotels they manage. Bearing this in mind, this study seeks to identify the operational factors – specifically hotel characteristics - that affect the debt of Portuguese hotel companies, also during periods of crisis. Based on a sample of 9842 observations from 1191 hotel companies between the years 2005 to 2020, both descriptive and inferential analysis were conducted using the ordinary least squares method. The results show that a hotel’s debt is positively influenced by its star rating but negatively affected by its ownership. For younger companies, the relationship with debt is positively influenced by ownership and negatively impacted by the hotel's brand. The study also concludes that the debt of these companies tends to increase during periods of economic or financial crisis.
- O BSC, o SIPOC e o Visual Management como ferramentas de potenciar a melhoria organizacional: um estudo de caso aplicado ao setor dos transportesPublication . Cardim, Sofia; Borges, Mário; Vara, Natália; Queirós, CristinaA estrutura empresarial portuguesa é composta maioritariamente por micro, pequenas e médias empresas, que nem sempre dispõem dos recursos físicos, materiais e humanos para desenvolver os seus processos operacionais da forma mais sustentável. Estas empresas representam uma fonte de emprego para um grande número de trabalhadores. O presente trabalho tem como principais objetivos evidenciar a importância da utilização do instrumento Balanced Scorecard e do SIPOC, introduzidos através do Visual Management, como ferramentas de melhoria do processo de trabalho numa PME do setor dos transportes. A metodologia é do tipo estudo de caso, com uma observação participante. Como principais resultados da implementação destas ferramentas, verificou-se uma melhoria de diversos processos internos inerentes ao desenvolvimento da sua atividade, sistematizando e desenvolvendo ações diversas no âmbito da sua atividade operacional. Estas mudanças encontram-se relacionadas, em grande medida, com a informatização de alguns processos, nomeadamente respeitantes com o controlo da frota, cargas e viagens, que eram realizados de forma manual e que passaram a ser realizados de forma informatizada, que se fizeram sentir na melhoria do bem-estar dos trabalhadores, essencialmente, da gestão de topo.
- Predicting the probability of occupational accidents occurrence in a Portuguese retail companyPublication . Sena, Inês; Silva, Felipe Gustavo Soares da; Braga, Ana Cristina; Fernandes, Florbela P.; Vaz, Clara B.; Pacheco, Maria F.; Novais, Paulo; Lima, José; Pereira, Ana I.Workplace accidents are a global problem impacting companies and society, as employee well-being and productivity/profit can be affected. Portugal ranks fifth among European Union countries despite efforts to reduce their frequency. Predictive solutions have demonstrated promising results in several economic sectors, but the retail sector, the country's third-largest in accident records, remains unexplored. This study proposes a predictive model based on the Multilayer Perceptron (MLP) algorithm to calculate the probability of risk situations occurring in a retail company. Ten databases provided by the company were analyzed and combined into a single dataset using impact scores. The predictive model was developed to predict risk situations in all the company's stores throughout two working days, the current and the next, and the four working shifts. The predictive model was implemented and tested in an integrated system for nine months and achieved 92% accuracy and a 29% precision rate in identifying risk situations. It is concluded that this approach provides a practical solution to assist companies and occupational health and safety teams prevent and minimize workplace accidents, contributing to increased safety and well-being.
- Smart tourism destination advances through qualitative research and further research avenues: a systematic literature reviewPublication . Vaz, Roberto; Carvalho, João Vidal de; Teixeira, Sandrina Francisca; Castanho, RuiSmart tourism destinations have emerged in the last decade as a recent evolution of destination. These denote innovative tourist spaces based on hyper-connected technological infrastructures that promote sustainable development, efficient resource management, improved tourist experiences and meaningful interactions with residents, contributing to enhancing destinations' competitiveness in the tourist sector. However, its widespread understanding and operationalization benefiting from qualitative research practices remains poorly explored. This article provides a comprehensive systematic literature review combined with thematic analysis to examine 43 studies on smart tourism destination advancements through qualitative approaches in detail and identify critical research trends that require urgent attention. The results provide multiple theoretical and practical implications related to employing qualitative methods to advance this emerging field; the most representative geographic scope covered and others demanding attention; the fundamental themes addressed for the economic, sociocultural, environmental, managerial, political, and tourism informatics dimensions of smart tourism destinations; and several future research avenues to extend and shape the future of this area of knowledge.